"We were extremely reluctant to make a change mid-season, but felt we had to do so in the club's best interests," chairman Daniel Levy said in a statement.

"We have a great squad and we owe them a head coach who will bring out the best in them and allow them to flourish and enjoy a strong, exciting finish to the season.

"We are in the fortunate position of having within our club a talented coach in Tim Sherwood.

"We believe Tim has both the knowledge and the drive to take the squad forward."

Sherwood’s former Spurs team-mates Les Ferdinand and Steffen Freund will make up the new first-team coaching set-up along with ex-Swindon defender Chris Ramsey.

When questioned about his future on Sunday, Sherwood told Sky Sports: "I never said I wanted the job and I never said I don't want the job.

"I've got to talk to the chairman and see where they want to take this football club.

“[Hopefully the decision will come] sooner rather than later, as these players need a manager.

"Hopefully I will speak to the chairman tonight. I don't want it [the job] on a temporary basis. I want it for the long term. It's got huge tradition but at the end of the day, it's got to be right for me."

Sherwood made 118 appearances as a player for Tottenham between 1999 and 2003, after joining the club from Blackburn for £4 million, as well as picking up three caps for England.